“The plight of the unbanked in the US’s poorest regions is a modern-day scandal in the world’s richest nation. Southern Bancorp is one bank seeking to address the problem. The bank has been working with marketing technology firm Mighty, offering data analysis on the impact of the 5,000-plus banks in the US. The aim is to increase awareness about how deposits support community investments and to point consumers to banks that align with their values.”

MIghty co-founder Megan Hryndza was quoted in Huffington Post along with other SOCAP scholarship company founders on what it takes to build a social impact business: “Focus on equipping people to take inspiration from your cause and make it their own.”

“Are bank accounts the on ramp for mainstreaming impact investing? CDFI banks can partner with Mighty Deposits to appeal to impact investors by providing investment transparency and telling their impact story.”

“Collectively, money can get things done. There will be more than ever a receptive audience for understanding they know where they spend their money matters but where they keep their money matters too,” [Hryndza] said. “Mighty is further looking to see where we can deliver on opportunities without people having to wait for the next vote, by bringing a platform for action and influence everyday.”

Enter Mighty, a new platform that will help “small but powerful” banks connect with potential depositors or investors who might be swayed to pick a bank based on positive social impact.

“What we want to start doing on day one is putting amazing banks that merit national attention on the map,” says Megan Hryndza, founder and CEO. “It’s time to hear what’s going awesome in banking, what’s going well, what banks have consumers and stakeholders and partners that show up and say this is a special bank.”

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Disclaimer: Mighty® is not a financial institution nor provider of any deposit services. Mighty® is a provider of services intended to bring bank deposit products and other bank products and services to the attention of people interested in these services. Information on Mighty® is intended to provide a purely educational overview. It is not financial advice. Any reference in this website to any person, or organization, or activities, products, or services related to such person or organization, or any linkages from this web site to the web site of another party, do not constitute or imply the endorsement, recommendation, or favoring of these products and services by Mighty®, or of Mighty® by said parties. Information on each bank and product is sourced from publicly reported data, individual bank websites, and bank surveys and may have changed. Please consult with banks directly for most up to date information.